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Regional Economic Intelligence Councils

With newer forms of continuously emerging complex economic crimes such as use of shell companies, manipulation of banking procedures/instruments/stock market and to detect new trends of Economic offenses, the enforcement agencies have to be vigilant and constantly in touch with each other for intelligence sharing. Keeping this in view, the Govt. has put in place institutional structure and mechanism for coordinated intelligence sharing and investigation at the regional level in the form of 30 REICs.

The REIC forum consists of officers from CBDT, CBIC, heads of other related agencies both from Central & State Govts. REICs have to gather economic intelligence on trade & industry in region and examine trends and modus operandi and suggest measures for dealing effectively against economic offenders. REICs have to disseminate real time information/ intelligence to related enforcement agencies. The forum should meet every two months and record the action taken on the information exchanged/shared between various agencies in the form of minutes and send directly to CEIB. The office of Convenor shall be a permanent secretariat to REIC. The meeting of each REIC is preceded by meeting of Nodal Officers Group(NOG) comprising officers of suitable level from each member agency represented in REICs.

The CEIB coordinates the functioning and monitors the performance of the REICs. A holistic approach is the need of the hour for detection of economic offences and apprehension of offenders and it is towards this objective that CEIB and REICs work.

Composition of REICs-

The REIC consists of designated officers of the Departments of Income Tax and Customs &CGST, heads of related agencies of Central and State Governments viz DRI, DGGI, NCB, ED, CBI, IB, local heads of the RoC, RBI, State Police and Tax Authorities etc. It is headed by the Convenor is of the Rank of Chief Commissioner from Customs, CGST or Income Tax Department. However, if at a particular place no officer of this rank is posted, the officer heading the local office of the enforcement agency/organization would attend the meeting.